Citi first established operations in China when it opened its Shanghai office in 1902. As the first American bank to fly the red, white and blue flag in China, Citi became known as Hua Qi Yin Hang, literally, the “Flower Flag Bank”. In the modern era, China remains one of Citi's greatest priorities.

Citi is proud to have reached many milestones in China:

1983 – 2001

2002 – 2006

2007 – 2009

2010 – 2014

1983

Re-entered China with a representative office in Shenzhen

1984

Opened Beijing representative office

1985

Opened Shanghai representative office

1988

Shenzhen representative office upgraded to branch

1991

Upgraded representative office in Shanghai to full branch status

1993

The first international bank to move its China headquarters to the mainland from Hong Kong

Beijing representative office upgraded to branch (1995)

1998

The first international bank to offer integrated nationwide Renminbi (RMB) cash management

Opened Guangzhou branch

1999

The first international bank to establish a centralized customer service center

2001

Awarded ISO:9002 certification for customer service center

2002

The first international bank to open a retail banking business

Entered into strategic alliance with Shanghai Pudong Development Bank

First international bank to be granted an FX license

Established a software and technology center in Shanghai

2003

The first international bank to receive a custodian bank license

Cleared first trade in the qualified foreign institutional investor (QFII) system

The first international bank to offer foreign currency investment products to Chinese consumers

Opened Tianjin Branch

2004

The first international bank to launch co-branded dual currency credit card

Obtained derivatives license (2004)

The first international bank to receive approval to establish an insurance JV